[111 Pages Report] The hollow fiber filtration market is projected to reach USD 517.4 million by 2023 from USD 242.0 million in 2017, at a CAGR of 13.5% during the forecast period. The base year considered for the study is 2017, and the forecast period is 2018 2023.

Hollow Fiber Filtration Market : Objectives of the Study

To define, describe, and forecast the market, by technique, material, application, end user, and region

To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)

To strategically analyze the micromarkets with respect to individual growth trends, prospects, and contributions to the overall market

To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders

To forecast the size of the market segments with respect to four main regions, namely, North America, Europe, Asia, and the Rest of the World (RoW)

To profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies

To track and analyze competitive developments such as product launches, expansions, agreements, and acquisitions in the market

Hollow Fiber Filtration Market : Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global hollow fiber filtration market and estimate the size of various other dependent submarkets. Major players in the market were identified through secondary research, and their market revenues were determined through primary and secondary research. Secondary research included the study of the annual and financial reports of the top market players, white papers, medical journals and magazines such as Life Science Leader and BioProcess International; certified publications such as European Federation of Biotechnology (EFB) and BioPharm International Supplements; and articles from recognized authors, directories, and databases. Primary research included extensive interviews with key opinion leaders such as CEOs, directors, and marketing executives. The percentage splits, shares, and breakdowns of the segments were determined using secondary sources and verified through primary sources. This data is consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Hollow Fiber Filtration Market, by Region

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the companys specific needs. The following customization options are available for the report:

Geographic Analysis

Further breakdown of the European market into the UK, Germany, France, and the Rest of Europe

The global hollow fiber filtration market is projected to reach USD 517.4 million by 2023 from USD 274.7 million in 2018, at a CAGR of 13.5%. The growth of this market can be attributed to the rising preference for continuous manufacturing in the biopharmaceutical industry and the increasing demand for biopharmaceuticals.

In this report, the global market is segmented on the basis of material, technique, application, end user, and region. On the basis of material, the market is segmented into polymeric and ceramic materials. In 2018, the polymeric materials segment is expected to account for a larger share of the market. This is because polymeric hollow fiber filters are widely used in many ultrafiltration and microfiltration applications, including filtration, desalination, and biochemical reactions.

On the basis of technique, the market is segmented into microfiltration and ultrafiltration. In 2018, the microfiltration segment is expected to account for the largest share of the hollow fiber filtration market. Microfiltration is a low pressure-driven membrane process in biopharmaceutical filtration. Due to the open structure of hollow fiber filters, they are preferred for microfiltration processes, especially in the recovery of proteins expressed in bacteria.

On the basis of end user, the market is segmented into pharmaceutical and biotechnology manufacturers, CROs and CMOs, R&D departments, and other end users. The pharmaceutical and biotechnology manufacturers segment is expected to account for the largest market share in 2018. The growing biopharmaceutical industry, increasing biologics research, and the significant growth in the biologics market are the major factors that have resulted in the increasing application of hollow fiber filtration in biopharmaceutical companies.

In 2018, North America is expected to account for the largest share of the global market. The increasing demand for biopharmaceuticals is one of the major factors driving the growth of the market in North America. The demand for biopharmaceuticals is increasing in this region owing to the rising geriatric population (since this section of the population is more prone to diseases such as diabetes, hypertension, musculoskeletal and cardiovascular diseases, chronic kidney diseases, strokes, and cancer).

Factors such as the stringent government regulations for drug safety are expected to restrain the growth of this market during the forecast period. The presence of stringent regulatory procedures favors the adoption and usage of established technologies and products, including filtration products such as cassettes and flat-sheet filters, as the validation process using these products and technologies has been established. As a result, manufacturers are reluctant to adopt new technologies such as hollow fiber filtration over established technologies.